Grayscale Bitcoin Mini Trust ETF (NYSEARCA:BTC) Shares Break Below 200-Day Moving Average – Here’s What Happened

Grayscale Bitcoin Mini Trust ETF (NYSEARCA:BTC)’s stock price passed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $32.13 and traded as low as $31.43. Grayscale Bitcoin Mini Trust ETF shares last traded at $31.52, with a volume of 1,367,175 shares traded.

Grayscale Bitcoin Mini Trust ETF Stock Performance

The company’s 50 day moving average price is $35.61 and its two-hundred day moving average price is $32.13.

Institutional Trading of Grayscale Bitcoin Mini Trust ETF

A number of hedge funds have recently added to or reduced their stakes in BTC. Northwestern Mutual Wealth Management Co. lifted its position in shares of Grayscale Bitcoin Mini Trust ETF by 33.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 69,462 shares of the company’s stock worth $1,803,000 after purchasing an additional 17,480 shares during the period. Bank of New York Mellon Corp purchased a new stake in Grayscale Bitcoin Mini Trust ETF during the second quarter valued at approximately $596,000. Tidal Investments LLC boosted its stake in Grayscale Bitcoin Mini Trust ETF by 10.4% in the second quarter. Tidal Investments LLC now owns 1,093,783 shares of the company’s stock valued at $28,384,000 after acquiring an additional 102,673 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in Grayscale Bitcoin Mini Trust ETF by 34.3% in the second quarter. Envestnet Asset Management Inc. now owns 273,410 shares of the company’s stock valued at $7,095,000 after acquiring an additional 69,840 shares in the last quarter. Finally, Chase Investment Counsel Corp acquired a new stake in shares of Grayscale Bitcoin Mini Trust ETF in the 2nd quarter worth $856,000. 27.38% of the stock is owned by hedge funds and other institutional investors.

Grayscale Bitcoin Mini Trust ETF Company Profile

The Grayscale Bitcoin Mini Trust ETF (BTC) is an exchange-traded fund that is based on the CoinDesk Bitcoin Cash Price index. The fund is passively managed, offering exposure to the daily USD spot price of Bitcoin, less expenses and liabilities. An investment in the fund is not a direct investment in Bitcoin. BTC was launched on Jul 31, 2024 and is issued by Grayscale.